Unit2PR1-3Ainteractive(1)

Unit2PR1-3Ainteracti - Barry Kimm January 1 2008 $0 Investment on August 1 2006 $25,000 Net income for August 23,665 Total $48,665 Less withdrawals

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Problem 1-3A Name: Dawn Thiessen Section: AC114-Unit 2 Enter the appropriate amount or item in the shaded cells. An asterisk (*) will appear next to an incorrect amount in the outlined cells. 1. MARINER FINANCIAL SERVICES Income Statement For the Month Ended January 31, 2008 Fees earned $52,400 Expenses: Salaries expense $15,000 Rent expense 7,500 Auto expense 4,500 Supplies expense 455 Miscellaneous expense 1,280 Total expenses 28,735 Net income $23,665 2. MARINER FINANCIAL SERVICES Statement of Owner's Equity For the Month Ended January 31, 2008
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Barry Kimm, January 1, 2008 $0 Investment on August 1, 2006 $25,000 Net income for August 23,665 Total $48,665 Less withdrawals 9,000 Increase in owner's equity 39,665 Barry Kimm, capital, January 31, 2008 $39,665 3. MARINER FINANCIAL SERVICES Balance Sheet January 31, 2008 Assets Liabilities Cash $29,140 Accounts payable Accounts receivable 10,400 Supplies 725 Owner's Equity Barry Kimm, capital Total assets $40,265 Total liabilities and owner's equity...
View Full Document

This note was uploaded on 10/11/2010 for the course ACCT 114 taught by Professor Cummings during the Fall '08 term at Kaplan University.

Ask a homework question - tutors are online